In addition to the annual monies it receives, the NSGF has an account known as the Community Development Account (CDA). The interest on this account is also distributed as per the terms of the MOA.
How much money does the NSGF receive?
The funds received through the VLT formula have experienced a steady decline in the last number of years, as a direct result of recent actions taken to reduce the number of VLT machines in Nova Scotia.
Since 2004, the NSGF has received the following amounts through the VLT formula:
2004-2005 - $953,060
2005–2006 - $842,198
2006–2007 - $709,455
2007-2008 - $662,592
2008-2009 - $655,218
2009-2010 - $630,876
Where does the money go?
The Memorandum of Agreement between the Nova Scotia Gaming Foundation and the Department of Health Promotion and Protection outlines the disbursement of funds. Simply put, the operating costs for the NSGF are taken from the total revenue and the remaining balance is disbursed accordingly.